Word: centralized
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Dates: during 1930-1939
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...swank side of Manhattan's Central Park is Fifth Avenue on the east, where expensive apartments house Al Smith, many another who can pay for the privilege of looking out on some of the city's few trees. But the west side of the park, which has a similar view, is no slum. It, too, has fine buildings in which the annual rent of an apartment is as much as the cost of building a modest home. Such a building is the San Remo, whose services employes struck three months...
...barter dealings with Germany, but they are not broken now. Real causes for the German shortage are three: 1) determination of the Nazis to import more war materials, less foodstuffs; 2) extensive additional needs of coffee-addicted Austria; 3) a Nazi practice of selling imported Brazilian coffee to Central Europe to bring in much-needed foreign currencies...
...became known last week that a committee of Eastern railroad presidents, headed by big, bald Frederick Ely Williamson of the New York Central, was studying the possibility of cutting passenger fares. Thus an amusing cycle in the Eastern railroads' fare policy seemed soon due for completion...
...ordered them to cut to 2? and 3? respectively. The Eastern roads were furious at the order, would have fought it out in court had not the Baltimore & Ohio refused to cooperate. Passenger revenue, however, jumped as a result of the lower rates (Mr. Williamson's New York Central enjoyed a $7,000,000 rise that year...
...that higher passenger fares were the thing. In July, ICC agreed to a rise in the coach fare from 2½-to-2½?. This time, instead of the $32,000,000 boost in revenue which Mr. Williamson and friends expected, passenger revenues dropped-the New York Central's falling 17% in August, compared with 1937, the B. & O.'s 19.5%, the New Haven's 3%. This slump continued until the Christmas holidays, when the roads experimentally restored the old low rates, got an immediate lift. Hence last week's committee...